National must come clean over REINZ deals

Associate Justice Minister Clayton Cosgrove
says the National Party should come clean over any deals it
has done with the Real Estate Institute (REINZ) to wind back
the government’s new legislation to overhaul real estate
law.

The Real Estate Agents Bill, which has now been
reported back from Select Committee, proposes an end to the
real estate industry’s self regulation and will instead
set up a fully independent body to manage the sector and
handle complaints and discipline. The Bill also ends
compulsory membership of the Institute.

On June 3, Mr
Cosgrove received a letter from a member of the Institute
which indicates that deals have been done between some
senior industry members and the National Party to wind back
this consumer protection legislation. “The letter said the
REINZ president Murray Cleland recently told members at a
regional AGM that if the National Party won the election it
is likely to change the legislation to suit the
Institute,” he said.

Mr Cosgrove said this raises
serious questions over what deals have been done. “The
National Party has confirmed it has met with REINZ
representatives so now it needs to come clean on when this
happened, who was present and what promises were made.
National should tell us if any election campaign funds have
been solicited or received by the Party, its MPs and/or its
candidates, and whether any contributions have been made by
REINZ and/or its member companies,” he said.

Mr Cosgrove
said the fact that the National Party cannot come up with
any concrete reasons for opposing the Bill adds to the
murkiness around its motives.

“National Party leader
John Key has admitted that reform of the sector is needed
but he opposes the Bill because he doesn’t like my
“tough guy” approach. If protecting consumers from
getting ripped off and supporting honest real estate agents
is being tough, then I am guilty as charged. But that is no
reason to oppose this Bill,” Mr Cosgrove said. “The only
excuse his colleague Simon Power has come up with is that it
doesn’t cover property managers, but Mr Power was on the
Select Committee and knows that property managers were ruled
outside the scope of the Bill and will be reviewed
separately.”

Mr Cosgrove said National Party needs to
tell the public if it is simply putting petty party politics
ahead of consumer protection or if it has a hidden agenda.

“Either way, it seems the National Party is happy to
put home buyers and sellers, plus good honest agents, out on
a limb with less protection to keep the REINZ happy.”

"This is standard slippery National Party behaviour. Just
like the deals National did with the Insurance Council over
their plans to privatise ACC before the last election. They
tried to brush it off then and it didn't work and it won’t
work this
time.”

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